Rayovac 2015 Annual Report Download - page 156

Download and view the complete annual report

Please find page 156 of the 2015 Rayovac annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 176

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176

SPECTRUM BRANDS HOLDINGS, INC.
SB/RH HOLDINGS, LLC
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS—(CONTINUED)
NOTE 19—EARNINGS PER SHARE—SBH
Basic earnings per share is computed by dividing net income (loss) available to common shareholders by the
weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the
dilution that would occur if restricted stock units were converted into common shares that then shared in the net
income (loss) of the entity, as long as their effect is not antidilutive. In computing diluted earnings per share,
basic earnings per share is adjusted for the assumed issuance of potentially diluted share-based awards, including
restricted stock units. The Company uses the treasury stock method to reflect dilution of restricted stock units.
The reconciliation of the numerator and denominator of the basic and diluted earnings per share calculation
and the anti-dilutive shares for the years ended September 30, 2015, 2014 and 2013, is as follows:
2015 2014 2013
(in millions, except
per share amounts)
Numerator
Net income (loss) attributable to controlling interest ............ $148.9 $214.1 $(55.2)
Denominator
Weighted average common shares outstanding—basic .......... 55.6 52.6 52.0
Dilutive shares ......................................... 0.3 0.7 —
Weighted average common shares outstanding—diluted ......... 55.9 53.3 52.0
Earnings per share ...........................................
Basic earnings per share .................................. $ 2.68 $ 4.07 $(1.06)
Diluted earnings per share ................................ $ 2.66 $ 4.02 $(1.06)
Weighted average number of anti-dilutive shares excluded from
denominator
Restricted stock units .................................... 0.1 0.1 1.1
Performance based restricted stock units are considered anti-dilutive if the performance targets upon which
the issuance of the shares is contingent have not been achieved and the respective performance period has not
been completed as of the end of the current period. During the year ended September 30, 2013, the Company did
not assume the exercise of common stock equivalents for restricted stock units as the impact would have been
antidilutive due to the net loss in the period.
NOTE 20—GUARANTOR STATEMENTS—SB/RH
SBI and SB/RH (collectively, the “Parent”), with their domestic subsidiaries as guarantors, has issued the 6.375%
Notes and the 6.625% Notes under the 2020/22 Indenture, 6.125% Notes under the 2024 Indenture and the 5.75%
Notes under the 2025 Indenture. See Note 9, “Debt” for further information on the 6.375% Notes, 6.625% Notes,
6.125% Notes and 5.75% Notes.
The following consolidating financial statements illustrate the components of the consolidated financial
statements of SB/RH. Investments in subsidiaries are accounted for using the equity method for purposes of
142